The Select Committee on the Chinese Communist Party (CCP) wrote to leaders in Congress requesting more resources for countering the CCP after Indo-Pacific Economic Framework for Prosperity (IPEF) falls short. This move comes in response to growing concerns about China's increasing economic influence in the Indo-Pacific region.
Starting off with a background to recent events, The third IPEF Ministerial Meeting took place in San Francisco, California, last week. IPEF, a collaborative effort in the Indo-Pacific region involving 14 countries such as the United States, Philippines, Singapore, Thailand, Vietnam, Australia and others aims to enhance economic collaboration among the nations. The objective is to promote "growth, peace and prosperity in the region". The meeting focused on four key pillars: Trade (Pillar I), Supply Chains (Pillar II), Clean Economy (Pillar III) and Fair Economy (Pillar IV), according to a press release from India's Ministry of Commerce and Industry.
Moving on to reactions from political stakeholders, "News that the Biden administration is putting its IPEF framework on ice makes clear that Congress has a key role to play in countering the predatory trade practices of the Chinese Communist Party and Congress must be front and center in developing a positive trade agenda with allies and partners in the Indo-Pacific," wrote Gallagher, Chairman of the Committee, in a letter to the Biden administration last week according to a press release from Select Committee on CCP. "It is time for administration to do what it should have done from beginning—work with Congress to develop serious agreement that includes market access especially for American farmers along with strong rules of origin and high standards."
Focusing next on tangible outcomes of recent negotiations, Last week's negotiations fell short of reaching an agreement on the trade pillar, although there was progress on the other three pillars. This development is a setback for Biden administration's aim to counterbalance China's growing trade and economic influence. U.S. Treasury Secretary Janet Yellen mentioned that additional work is required to finalize the framework. Talks over framework have since been put on hold, according to Reuters.
Lastly, shedding light on the committee's viewpoint and demands, "The resources dedicated to Indo-Pacific in Administration’s proposed supplemental are wholly inadequate...," said lawmakers in letter to Congressional leaders according to a press release from Select Committee. "Indo-Pacific, our priority theater must not be an afterthought. In order to safeguard peace in Asia and deter conflict on scale we have not seen in generations, we must act before it is too late. For while deterrence may be hard, war is hell. We must enhance Indo-Pacific supplemental request and treat CCP threat with gravity it deserves. Our men and women in uniform whom we may one day soon ask step into harm’s way deserve no less."
